Skyrocketing revenue is one thing; efficiently handling the growth is another. You’ve probably wondered how safe it is if your billion-dollar dream happens today. Do you have what it takes to manage human resources, operations, and the funds to maintain your roofing company’s growth while making room for more?
Well, your questions would be valid, and you’ll find the answers here.
Who else is more qualified to provide such answers than a company that sold up to $17M in just year one!? Read and learn the process and ideals that Sam Kohler and Shane Michael of Vanguard GC used to reach such mind-blowing success.
What Challenges Can a Growing Roofing Company Expect to Face?
Before diving into the practical steps of handling your roofing company’s growth, let’s take a look at three common problems budding roofing companies can often face.
Note that every business, whether struggling or thriving, faces challenges. However, those informed about what problems to expect will navigate through and attain success faster. Here are three hitches you can expect as your roofing company grows:
Jealousy is a common human problem. If you’re experiencing a boom in growth, don’t be surprised if you start getting backhanded compliments like “I wouldn’t want that for myself” or “I prefer the freedom.” Some folks will only compliment you because they have to be nice.
Hence, it’s more advisable to surround yourself with those doing better than you; they’re more likely not to feel threatened by your success, and you can learn from them. You’ve probably heard that you’re the average of the main five people you surround yourself with. Surround yourself with winners!
2. Management Problems
There’s always an initial point where one person may have to perform multiple roles such as marketing and social media manager. Most successful businesses have the two/three-person team start-up story, seeing how costly hiring a project manager may be.
But the beauty of such early days is that they groom the company’s owners into the seasoned leaders they’ll need to be. When they employ more hands, they’ll have first-hand experience with the work, allowing them to direct in the best way.
3. Tax Payment
Tax! How ironic that the sound of a three-letter word can be so overwhelming. Many young owners need help managing taxes in their businesses. Plus, seeing how much the government taxes, it feels like they don’t want small businesses to grow.
Nonetheless, a more critical look shows that tax isn’t just the government billing you but their way of supporting other small and struggling businesses. The primary solution to tax is to include it in your consideration when charging. Charge more to make up for it.
The government also has many programs to help small businesses, but many people need to be educated about them. Several grants, like the payroll retention credit, also sprung up to the aid of many small businesses during covid.
Seven Practical Steps to Manage Your Roofing Company’s Growth
The good news is that despite these challenges, your company can still thrive. With the following tricks up your sleeve, your roofing company’s growth will seem more like a workover.
1. Choose Your Associates Wisely
An ancient wise saying goes, “He that walks with the wise shall be wise.” How true! If your roofing company’s growth must turn out to be an undeniable success, you must spend quality time interacting with successful minds.
Intentionally select those you call your close friends because you’ll be inadvertently influenced by them, either positively or otherwise. Cut down social media time and spend more time with good books along your business’ line; they’ll transform your thought process.
Your personal development and your staff are closely tied to their choice of influence, which is also the hinge of your roofing company’s growth.
2. Be Sure of What You Want
Before starting a business, you need to be specific about your goals. If you want to make a lot of money, you can work alone, do everything yourself, and undertake several projects monthly.
You will make just as much money as someone doing four million a year with a couple of salespeople, which is what most recovery owners do. However, it’s best to have people to work with who double as accountability partners. It’s like going to the gym. If you are meeting someone at the gym, you’ll always be eager to be there.
3. Audit Your Business and Time
It would help if you addressed the importance of auditing your business. Auditing helps you identify your company’s strengths and weaknesses, where you had the highest and least productivity. After an intensive auditing session, you’ll know which workers to change and what area to strengthen. All of which will culminate into a solid foundation and give you room for improvement.
You should also audit your time! You have to know what activities you spend the most time on. Surprisingly, you’ll find most of those activities easy to pass off; maybe you liked them because of their comfort.
Because you’re human (not a machine), it’s effortless to get stuck in the easy and fun stuff, even if they’re low value or productive to you as a leader. Of course, you should have fun and get your juices up, but being intentional about how much time you spend on each activity is the goal.
4. Diversify Your Business
Diversity is life! Being a one-way contractor or businessperson has never helped anyone. Of course, specialization is critical to expertise, but don’t spend all your time, energy, and resources in just one direction. If, as an insurance roofer, all you do is insurance, it means “no insurance work, no sales.”
It shouldn’t be the case, especially when you know you can handle more. As a roofing contractor, you can include custom gutters and interior services on your list. This way, if something goes wrong on one end, you can be sure things will continue to go forward.
Your mind should rest amidst multiple income streams, enough to invest and still have to spare. And investing removes the feeling that you have more than enough, pushing you to do more work.
5. Re-evaluate Your Sales Personnel
If you’re a $3 to $5 million company with two or three salespeople, you need to re-invest in those people to get better at selling and have a higher closing rate. That’s way better than taking on recruits. The grass is greener where you water it, you know.
Also, if four of your salespeople make about 15% of your company income, it’ll seriously affect your roofing company’s growth if you cut them off. You might have to switch roles or relieve those who lag.
It’ll be better to recruit new guys that are consistent and ready to work with your company’s objectives; they’ll contribute more to your roofing company’s growth.
6. Leverage on Tech and Freelancers
Nowadays, there are so many technological solutions available that can help businesses maximize their sales and growth for less cost than ever before. From utilizing skilled staff to create automated customer service emails and implementing tracking software to monitor performance data, technology has become an invaluable tool for any business looking to expand its reach or increase its revenue streams.
Not only does such technology provide businesses with access to valuable insights about their customer’s needs and buying behaviors, but it also allows them to cut costs by automating tasks that used to be done manually. Your time is your most valuable asset as a roofing business owner, which leads to the next point.
7. Engage With Videos
We’ve enjoyed the power of videos in engaging with both new leads and established clients, and it’s proven to be very strategic marketing. If your company makes two videos, let one go out immediately after someone submits a contact form, telling them exactly what will happen next.
The other one will be a video under your submit form, saying, “What’s about to happen if you submit this form?” This one tells them beforehand and decreases their anxiety about what to expect. Both of these videos are crucial to reducing anxiety and increasing follow-through.
Using these videos with all your automated messages and emails makes them more personalized. Another idea is to add a little gif of the video’s beginning with a play button; it increases the video’s click-through rate.
Videos are also an excellent filter for leads you don’t want. The more important questions you answer through your videos, the more deals you’ll close. There might be fewer leads, but you’re more likely to close the deals you get.
Don’t forget to include what makes you stand out from other companies in your videos — your strong points, new ideas, innovation, and technology. You will, for sure, close those deals.
Managing a roofing company’s growth is undoubtedly not a bed of roses in the first year. But since others have achieved it, then it’s also a possibility for you. In these early days, you want to surround yourself with like-winning minds and deepen your understanding of sales processes, marketing strategies, and tax.
Build your employees to love reviews and auditing, and take care not to put all your service “eggs” in one basket. With some time and intentionality in practicing these key points, those eggs will hatch, mature, and fly high for everyone to see and learn from.
Hook agency remains your go-to expert if you need more professional advice on managing your roofing company’s growth in the best way possible. Contact us today and let us know how we can help you out!